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OPERATING LEASES
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
OPERATING LEASES OPERATING LEASES
The Company leases office space in various locations in Alabama, Pennsylvania, Minnesota, Maryland, Mississippi, and Washington. These leases have terms expiring from 2022 through 2030 but do contain optional extension terms. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term.
Supplemental balance sheet information related to operating leases was as follows:
(In thousands)September 30,
2022
Operating lease assets
Operating lease assets$7,999 
Operating lease liabilities
Other accrued liabilities2,051 
Operating lease liabilities, net of current portion6,088 
Total operating lease liabilities$8,139 
Weighted average remaining lease term in years5
Weighted average discount rate4.4%
Because our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. We used the incremental borrowing rate on January 1, 2019, for operating leases that commenced prior to that date.
The future minimum lease payments payable under these operating leases subsequent to September 30, 2022 are as follows:
(In thousands)
2022$511 
20232,063 
20241,994 
20251,258 
20261,225 
Thereafter2,065 
Total lease payments9,116 
Less imputed interest(977)
Total$8,139 
Total lease expense for the nine months ended September 30, 2022 and 2021 was $1.6 million and $1.4 million, respectively.
Total cash paid for amounts included in the measurement of lease liabilities within operating cash flows from operating leases for the nine months ended September 30, 2022 and 2021 was $1.6 million and $2.3 million, respectively.